NEW YORK (AdAge.com) -- How much is TV Guide magazine worth in a morphing media business and molten credit markets? Try $1.
That's how much the private equity fund OpenGate Capital has agreed to pay Macrovision for the unprofitable magazine and all its liabilities. The cover price, by way of comparison, is $2.99.
To sweeten the deal even further, Macrovision is loaning OpenGate up to $9.5 million to help get going -- at a very friendly 3% interest.
"I'd borrow from Macrovision any time," one investment banker said of the terms.
SUBSCRIBE AND FOLLOW
Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements.Learn more